WHAT DO YA`LL THINK GAMBLING NETWORK TRYING CRYPTO -CURRENCY DECENTRALIZE !!
WHAT DO YA`LL THINK GAMBLING NETWORK TRYING CRYPTO -CURRENCY  DECENTRALIZE !!

WHAT DO YA`LL THINK GAMBLING NETWORK TRYING CRYPTO -CURRENCY DECENTRALIZE !!

By kelvincrypton | KelvinCrypton | 28 Jun 2020


Following the release of what at the time was the much maligned paper, the infamous Nakatomo was said to have started to ‘mine’ bitcoins and as of January 2009, a network for Bitcoin was created as Nakatomo mined the ‘genesis block’ of Bitcoin (fitting), (block number zero), and this carried a reward (or preempted value) of 50 Bitcoins.

It was programmer Hal Finney who was one of the first Bitcoin loyalists having downloaded the software on the day that it was released and consequently received 10 Bitcoins from Nakatomo, in what was the world’s first ever Bitcoin transaction.

Initial estimations indicated that Nakatomo first mined one million Bitcoins before seemingly disappearing off the grid. It appeared that lead developer Gavin Andresen assumed control via the aptly named Bitcoin Foundation; the closest entity to what was hoped would be seen as a legitimate public face.

Bitcoin In The Beginning

WROTE BY : https://www.onlinecasinos.org.uk/

Gambling Leads Major Bitcoin Breakthrough

 

In 2014, the floodgates opened and Bitcoin rode the crest of the wave as gambling companies led a tidal surge of companies who started to accept the currency as a form of payment and for the first time six years it seemed; Bitcoin was no longer treading water.

January of that year, Zynga revealed that it was going to start using Bitcoin as testing for purchasing in game features on seven of its games. And then, in the same month, The Downtown Las Vegas Casino Hotel as well as the Golden Gate Hotel and Casino entities in the gambling hotspot said that they would also start to accept the currency.

Jeffrey Green, an advisor for Zynga at the time cited: “The benefits would be to give the user another payment option. Give the user what he wants, so to speak,” he said to Coindesk.

“The challenge would be the volatility of bitcoins and what their worth might be when exchanged for dollars. Volume wouldn’t be very high, but there likely will be gamers out there looking for something novel to try,” he continued.

That summer, a further major breakthrough; stock exchange listed companies Dell and Newegg began accepting Bitcoin as an acceptance of their trading currency as a mark of reciprocation to a number of investment banks hedge funds, regulatory institutions and corporate clients across their operating regions.

Within the space of the next three months, IT giants , Microsoft jumped on the bandwagon as they pitted their support towards the acceptance of Bitcoin by way of the hugely popular Xbox games, with Windows software being pitted into a position to compete considerably.

There are plenty of reasons to believe that Bitcoin will have a major part to play in the online casino industry for years to come. This is because, every online casino recognises that it is in their interests to use the latest technology and through their own research, they can join the dots between how their target customers are behaving online and what they favour.

Due to the anonymity advantages that are associated with Bitcoin and the ability to transact securely without leaving a correlation with bank account details, this is a process that more and more gamblers will be able to relate with

Disadvantages Bitcoin Banking With Online Casinos

cons card in hand While there may seem to be, on the face of it a number of attractive reasons for using Bitcoin as a payment processor at online casinos, these need to be weighed up against potential negatives.

If you are contemplating using Bitcoin, you should at all costs make sure that you properly understand the currency, mechanics and the process completely before making any kind of decision.

One big drawback of using the currency, is that it is arguably one of the most volatile in existence and can quickly lose its value. This means the rate that you bought if for can quickly increase which will go against you considerably.

Imagine buying Bitcoin for $300 to then want to withdraw a day later to find that it has gone up to $500 - that leaves you in a deficit position. However, it can work in your favour if the value decreases. It is for this reason why you need to have a comprehensive understanding of the currency and realise how likely it is to change in value while you are using it.

In line with popular demand, there is also a considerable rise in the number of online poker sites who are using Bitcoin. While this could be seen as positive on the one hand, it does open up possibilities for corruption and collusion, with potential identities at risk, which means that they may not be as anonymous as first thought or guaranteed.

Following on from this, there is an argument to suggest that the anonymity that Bitcoin promised may not be as straightforward. This is because there is an implication that the currency can actually be tracked via the blockchain technology back to the original purchase point, which as a result would consequently track back to the Bitcoin wallet owner’s bank account information and personal details.

There are many different nuances to the process, however, like with anything, it is always best to proceed with caution and at least be aware of the risks before deciding to make Bitcoin your preferred banking method when you sign up to an online casino site.

 

 

How Do I Find The Best Online Casino Sites Which Accept Bitcoin?

Here at onlinecasinos.org.uk we work with only the very best online casinos and one of the most important factors for us is that each one is regulated by a relevant industry body such as the UKGC (United Kingdom Gambling Commission) which checks every online casino site to make sure that they are adhering to all of the legislation.

Consequently, each Bitcoin related online casino that we work with is regulated and you can rest assured that they have been given the best possible due diligence by our highly trained and industry experts who have decades of experience in the industry.

For each online casino that we work with, we know it inside out and as such, register, deposit (in this case with Bitcoin) and play some of the games so that we can provide the most accurate and unbiased information.

 

 

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kelvincrypton
kelvincrypton

Hi I`m Kelvin Publisher and Promoter


KelvinCrypton
KelvinCrypton

WILL LIKE TO SHARE ALL MY KNOWLEDGE ABOUT HOW TO USE CRYPTO CURRENCY AND HOW TO USE DIFFERENCES PRODUCTS. TRADING IS MY PASSION AND WOULD LIKE YOU TO SHARE WITH ME! YEAH....

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